No, you're missing the point. I wasn't arguing against YC, but against VC money.
YC doesn't have liquidation preferences, and if it did, the multiple of $20k would be so small its not really relevant in this discussion.
YC doesn't have liquidation preferences, and if it did, the multiple of $20k would be so small its not really relevant in this discussion.
Secondly, what do you propose instead? Most banks will not give bank loans to revenue-less Internet startups, because they have no guarantee of being repaid. Bootstrapping off savings is ideal (it's what I'm doing...), but not every idea is bootstrappable.